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Stocks surged Tuesday, with the S&P 500 closing up 2.9% while the Nasdaq rose 3.8% and the Dow gained 1,125 points.

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But this very good day capped off what was a very bad month for U.S. equities. The S&P 500 fell 5.09% in March, and the Nasdaq Composite declined 4.75%.

The U.S.-Israeli war on Iran and the near-total blockade of the Strait of Hormuz, a narrow, Iranian controlled waterway through which a fifth of the world’s crude oil typically transits every day, weighed heavily on markets throughout the month.

Tuesday was also the end of the first quarter of the year, one when the S&P 500 and Nasdaq posted their worst annual starts since 2022, when the Russian invasion of Ukraine rocked markets.

For the first quarter, the S&P 500 dropped 4.6% and the Nasdaq declined 7.1%.

Oil prices, meanwhile, soared over the past month, driving up the cost of fuel and triggering a domino effect of higher prices around the globe.

Brent, the international oil benchmark, posted its largest monthly percentage increase ever, after having risen more than 60%. The price of U.S. West Texas Intermediate crude oil also soared in March, climbing more than 50% in its biggest one-month gain since 2020.

For millions of drivers in the U.S., the increases manifest as higher prices for gas. And here, too, the past month was remarkable. The average price of unleaded gasoline hit $4 per gallon Tuesday, up more than 34% in just four weeks.

But it’s not just gas prices that hit U.S. households this month.

More than half of all adults in the U.S. own stocks, often via their retirement accounts and the broader funds those managed accounts invest in. Most of the time, market moves up and down don’t swing the value of those kinds of diversified retirement accounts.

But March was a different story.

“Stocks have been following the lead of oil prices at an unprecedented rate over the last several weeks, and if the U.S. just walked away from the Middle East with the Strait still blockaded, energy markets would likely remain incredibly supply-constrained, keeping prices high,” analysts at Bespoke Investment Group wrote Tuesday.

“The longer prices are high and supplies are limited, the worse it’s going to be for the global economy and ultimately stock prices,” they added.

The wild market swings of the second Trump administration are in sharp contrast to how Donald Trump said the markets would react if he were elected to a second term in 2024.

“There are many people that are saying that the only reason the Stock Market is high is because I am leading in all of the Polls, and if I don’t win, we will have a CRASH of similar proportions to 1929,” Trump wrote on Truth Social in May 2024 as he campaigned for the presidency.

Shortly after he was re-elected in 2024, Trump was asked whether he believed market indexes were good barometers of his performance in office. “To me … all of it together, it’s very important,” he told CNBC.

But during the first 14 months of his second term, U.S. markets have faced some of the sharpest drawdowns in history.

In February and March of last year, Trump’s sweeping tariff policies roiled the market, pushing the S&P 500 into its seventh-fastest correction of all time. A correction is when a stock or an index declines 10% from its most recent record high.

Just over a year later, the S&P 500 isn’t far from doing it again. As of Tuesday’s closing bell, the index had tumbled 6.7% from its most recent high in January.

As oil prices rise, stocks typically fall given that higher oil prices typically lead to higher prices across a number of industry sectors over the long run.

Already, inflation is on the rise around the world. On Tuesday morning, eurozone inflation came in at 2.5%, from 1.9% the month before, according to the European Central Bank.

On Tuesday, the Nikkei 225 in Japan recorded its worst month since 2008. In Europe, the Stoxx 600 index posted its worst month since 2022.

Two near-corrections in just over a year illustrates just how volatile the administration’s policies have been for markets.

Still, since Trump took office for a second time, the S&P 500 is up 8%, although last year global stocks far outpaced the broad U.S. index.

In 2025, global stocks as measured by the MSCI ACWI ex USA index rose nearly 30%, while U.S. stocks rose just 16%. Global stocks haven’t beaten American equities by that much during the first year of a presidential term since 1993, according to data from Bloomberg.

In recent weeks, Trump has repeatedly touted the Dow’s recent 50,000 milestone as a sign that the markets are doing well in his presidency.

“You know, it’s sort of crazy, I hit 50,000 on the Dow,” Trump said at an investment conference in Florida on Friday. “People said that wouldn’t be possible within four years.”

“And then we hit 7,000 on the S&P,” Trump added. “People said that’s even harder than hitting 50,000 on the Dow.”

As of Tuesday, the Dow had plunged more than 3,600 points since it hit 50,000, a drop of nearly 7.5%.

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This is the time of the NBA season, with two weeks to go before the start of the playoffs, when teams want to be playing their best basketball.

Squads that are playing well late in regular seasons often outperform their perceived record and can go on deep playoff runs. Sometimes it’s the case of a team finally finding its identity, sometimes it’s the return of an injured star reinvigorating a lineup and sometimes, frankly, it’s a case of veteran teams coasting through much of the season, saving their best for when games matter most.

Yet, that isn’t necessarily the case for everyone. Some teams have hit recent struggles and are sputtering headed into the end of the 2025-26 season.

Here’s a look at who’s hot in the NBA and who is decidedly not:

Who’s hot?

Atlanta Hawks

Since the All-Star break, the Hawks have been the hottest team in the East, going 18-3 in that span. The coaching job Quin Snyder has done this season is nothing short of remarkable. This season alone, the Hawks have been through several iterations of this team — from an opening night starting lineup that played just 24 minutes together to eventual trades of Trae Young and Kristaps Porziņģis — but have now settled on a team-first, ball-sharing identity that’s backed by defense.

Atlanta is averaging 30.3 assists per game, which is currently tied for eighth-most in NBA history. And, with Nickeil Alexander-Walker settling into a larger role and being paired alongside Dyson Daniels, the Hawks have a ferocious clamp on opposing wing scorers. Recent victories over the Celtics and Pistons — the top two teams in the East — show how dangerous this team can be.

San Antonio Spurs and Oklahoma City Thunder

These two get a quick mention and are paired because they have been the best teams in the West for much of the season. San Antonio has gone an NBA-best 20-2 since the All-Star break and the Thunder are 18-2 over that span. They’re led by their Most Valuable Player candidates in Victor Wembanyama and Shai Gilgeous-Alexander and they look every bit like title contenders.

Los Angeles Lakers

This one is mostly thanks to Luka Dončić. He’s on an absolute heater lately, averaging 39.7 points per game over his last 10 and 37.5 in the entire month of March. Los Angeles has won 13 of its last 14, and some of those have come against big opponents: the Knicks, Nuggets, Rockets (twice) and the Cavaliers.

LeBron James has embraced play-making and is putting Dončić and the rest of his teammates in position to make shots; over the last seven games, James is averaging 8.4 assists per contest, tied for ninth most over that span. The defense has been better, and this looks like a team — after crashing out in the first round of the playoffs last year — that knew it needed to conserve some energy for this stretch run.

Charlotte Hornets

They’re the No. 8 seed in the East, but Charlotte could be a problem either way in the play-in. Since the All-Star break, the Hornets have posted the NBA’s second-best offensive rating (122.1), which is just 0.1 behind the league’s top team, the San Antonio Spurs. A lot of that offense has come from LaMelo Ball, sure, but Rookie of the Year favorite Kon Knueppel has been a revelation, and Charlotte suddenly has shooting all over the floor.

It hasn’t been one-sided, however. Since the break, the Hornets have posted the NBA’s sixth-best defensive rating (109.8).

Who’s not?

Miami Heat

On March 12, the Heat toppled the Bucks to improve to 38-29, remaining in the sixth seed. It was their seventh consecutive victory and 10th in 12 tries. Since then, it has been an unmitigated disaster.

Miami has lost eight of its last 10 and its defensive identity has crumbled. This is the side of the ball on which the Heat pride themselves, yet Miami has allowed opposing teams to score 126.4 points per 100 possessions, the worst mark in the NBA over that span. All-Star guard Norman Powell has missed a lot of this run with a back injury and an upper respiratory illness, but the team is hopeless in stopping opposing offenses any time Bam Adebayo sits for even a few minutes. Worst yet, they’ve been struggling as he has been on the floor.

Orlando Magic

In a lot of ways, Orlando’s recent stretch is much like Miami’s: the Magic went on a seven-game winning streak prior to losing six consecutive and eight of 10. The issue for Orlando has been its offense. The one thing that Orlando has on Miami, however, is that the Magic went a perfect 5-0 against the Heat.

The other good thing is that they just got Franz Wagner back Wednesday, April 1 from a left ankle sprain that had sidelined him for more than a month. Still, he was on a minutes restriction, and the Magic lost by 29 against Atlanta.

Phoenix Suns

It turns out Devin Booker couldn’t quite carry Phoenix during a rash of injuries that saw Dillon Brooks and Mark Williams miss extended time, while role players Grayson Allen and Haywood Highsmith have also had to sit in spots.

The biggest blow was the left hand injury to Brooks, who is averaging a career-high 20.6 points per game. He made his return Tuesday, March 31 in an eventual loss against the Magic, and Phoenix has lost seven of its last 10. That’s the bad news.

The good? Phoenix has remained locked into the No. 7 seed, where it has been since Jan. 23, and the Clippers — who are 3 games back — probably have too much ground to make up.

Either way, there had been a slight chance that the Suns could contend for that No. 6 seed and automatic playoff berth in the crowded West. After this recent losing stretch, however, and with the Suns 4½ games back of Minnesota, that’s a near impossibility.

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Hailee Steinfeld is officially a mom!

The Oscar-nominated “Sinners” star, 29, has welcomed her first child with husband Josh Allen.

Steinfeld revealed the news in an April 2 edition of her newsletter “Beau Society.” In a newsletter titled “Special delivery,” she included a graphic of a stork and shared, “Our baby girl has arrived!!”

“We’re feeling incredibly grateful and blessed and savouring these early moments. Thank you so much for the love and well wishes,” read a message signed by both Steinfeld and Allen.

The news comes after Steinfeld announced she was expecting her first baby with Allen in December. The couple’s pregnancy reveal came in the form of a sweet video that showed Allen kissing Steinfeld’s baby bump. The actress later debuted her baby bump on the red carpet of the Golden Globes in January.

Steinfeld has been romantically linked to the Buffalo Bills quarterback since 2023. They made their relationship Instagram official in July 2024, confirmed their engagement in November 2024, and tied the knot in May 2025.

The “Hawkeye” actress recently wrote in a March 27 newsletter that she had been “folding baby clothes,” and she reflected on celebrating her mother’s birthday, writing that her mom “set a standard that I don’t know if I’ll ever be able to match, but I’m sure going to try.”

Steinfeld also celebrated a big night for her movie “Sinners” at the 2026 Oscars. She did not attend the ceremony, where her costar Michael B. Jordan won best actor.

“Couldn’t write a reflection on this month without mentioning ‘Sinners,’ specifically the love I felt watching my cast on Oscars night,” she wrote on March 27. “Despite being at home, I was overwhelmed with pride and joy for this cast.”

In his best actor acceptance speech, Jordan shouted out Steinfeld, saying, “She’s getting ready to have a baby right now. Thank you so much for being the other half of Stack.”

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Democratic Michigan Senate candidate Abdul El-Sayed is facing pushback from conservatives on social media and the Republican he’s running against over an appearance where he was accused of equating the “radicalism” of Iran with the “MAGA movement.”

“There are many people who see the downfall of the regime as a good thing, but the question of whether or not it was pursued legally, that’s a different question,” the progressive candidate told “America’s Newsroom” on Wednesday. El-Sayed was responding to controversy over a Washington Free Beacon report on leaked audio of him explaining why he shouldn’t take a public position on the death of former Iran Supreme Leader Khamenei because of people in Dearborn, Michigan, who are “sad.”

“Whether or not its worth $31 billion of our taxes and counting a billion dollars a day, that’s another thing. Whether or not we should be paying higher rates at the pump every single time we try to just get where we’re going and pump gas… that [is] a big question, and I’ll tell you what, there are a lot of people who are really sad about the fact that they thought that the era of foreign wars, of never-ending regime change wars were over, and here we are.”

During another point in the interview, El-Sayed was asked, “Would we all not be better off if the radicals in Iran did not make decisions for the people?”

DEMOCRATS TEAM UP WITH FAR-LEFT STREAMER WHO ONCE SAID ‘AMERICA DESERVED 9/11’

El-Sayed responded, “Radicalism of any sort is bad, which is why this MAGA movement taking us into yet another war in my lifetime, and I’m only 41, is so ridiculous.”

El-Sayed quickly faced pushback from Republicans who accused him of not sufficiently explaining his comments in the leaked audio and equating the ayatollah’s regime with the Trump administration. 

“Democrats in 2026,” GOP communicator Matt Whitlock posted on X. “Abdul Al Sayed is asked point blank if the world is better off without the world’s largest state sponsor of terror. And gives a word salad about how the Ayatollah’s radicalism and Trump’s MAGA support are the same.”

“Democrat Abdul El-Sayed compares the Trump administration to the Ayatollah,” the Republican National Committee account posted on X. 

“What?!” Mark Levin Show producer Rich Sementa posted on X

MICHIGAN SENATE CANDIDATE RESPONDS TO BACKLASH OVER KHAMENEI COMMENTS, CALLS IRAN CONFLICT ‘WAR WE DON’T NEED

U.S. Senate candidate from Michigan Abdul El-Sayed

The campaign of Republican Senate candidate former Rep. Mike Rogers also took aim at El-Sayed.

“You would think sympathizing with a terrorist regime would be disqualifying, but apparently, for Democrats, it’s a fast pass to the front of the primary,” Alyssa Brouillet, Rogers’ campaign communications director, told Fox News Digital. “No amount of Abdul’s attempts to distract or deflect will be enough to hide how dangerous he and the Democrat party really are for Michigan.”

El-Sayed also faced some push back online over his answer to a question about his upcoming event with progressive commentator Hasan Piker, who has been accused of making antisemitic remarks and downplaying the October 7 massacre by Hamas.

“To me, it’s about speaking to a broader audience,” El-Sayed explained. “I’m wanting to speak with Hasan’s audience too.”

Fox News Digital reached out to El-Sayed’s campaign for comment. 

Gary Peters speaks during Day 2 of the Democratic National Convention

The Senate race in battleground Michigan is one of a handful in this year’s midterm elections that will determine if the Republicans hold their 53-47 majority in the chamber. Michigan, where Democratic Sen. Gary Peters is retiring, is one of the National Republican Senatorial Committee’s (NRSC) top targets as they try to not only hold onto their seats, but also possibly expand their majority.

Rogers, a former FBI special agent who later served as chair of the House Intelligence Committee during his tenure in Congress, launched his campaign last April. Rogers is making his second straight run for the Senate, after narrowly losing the 2024 election to now-Sen. Elissa Slotkin in the race to succeed Democratic Sen. Debbie Stabenow, who retired. Slotkin, who vastly outspent Rogers, only edged him by roughly 19,000 votes, or a third of a percentage point.

Michigan’s Democratic Senate primary will be held on Aug 4 as El-Sayed squares off against Michigan state Sen. Mallory McMorrow and Democratic Rep. Haley Stevens to earn the chance to replace Peters in November.

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The 48-day Department of Homeland Security shutdown is one step closer to ending after the Senate moved to fund most of the department Thursday morning.

The Senate agreed via voice vote to send a bipartisan deal funding the whole department except for President Donald Trump’s immigration enforcement and border security efforts to the House for consideration.

The chamber is not expected to vote on the legislation until House lawmakers return to Washington on April 13. 

The Senate vote follows GOP leaders endorsing a two-track approach to funding DHS on Wednesday, with President Trump giving lawmakers a hard deadline to end the record-breaking funding lapse. 

HOUSE CONSERVATIVES RAGE AGAINST SENATE DHS SHUTDOWN DEAL

The Senate bill accomplishes the first phase of the plan by working with Democrats to fund as much of DHS as possible on a bipartisan basis. However, it would zero out funding for ICE and much of the Border Patrol, save for $11 billion in customs funding going to the agency. Additionally, $10 billion teed up for ICE won’t be funded under the measure.

As for ICE and the Border Patrol, Republicans have said they will seek three full years of funding for both of these agencies in a party-line budget reconciliation package that will bypass Democrats’ opposition. Trump says he wants the forthcoming bill on his desk by June 1.

“We are going to work as fast, and as focused, as possible to replenish funding for our Border and ICE Agents, and the Radical Left Democrats won’t be able to stop us,” Trump wrote on Truth Social on Wednesday. 

The Senate bill’s passage on Thursday was a déjà vu moment for Senate Majority Leader John Thune, R-S.D., who helped steer the same measure through the upper chamber last week.

But House GOP leadership sharply rejected it, calling the measure’s exclusion of ICE and CBP money a “crap sandwich” and warning about the risks of funding those entities using the budget reconciliation process. The chamber then put forward a rival proposal that Senate Minority Leader Chuck Schumer, D-N.Y., made clear was “dead on arrival” in the Senate. 

Thune said shortly after the vote that he was hopeful the House would move onto the bill quickly, and that the next step would be budget reconciliation. Still, he blamed Senate Democrats, and not Republicans in-fighting at the finish line, for the current position Congress was in. 

“I think this whole where we are is just a regrettable place. We have the Democrats who are holding the appropriations process hostage and their anti-law enforcement, open borders, defund the police wing is the ascendant wing,” Thune said. “And there, I think everybody’s afraid of them, and so we’re stuck in a spot that’s just not good for the country, the future of the appropriations process, or, for that matter, the future of the Senate.” 

House Speaker Mike Johnson, R-La., appeared to relent Wednesday after Trump issued a statement outlining an end to the shutdown that appeared to side with Thune’s two-part approach to funding the department. 

Senate Majority Leader John Thune, R-S.D.

GOP INFIGHTING, DEMOCRATS’ UNMET DEMANDS AND A CLEAR WINDFALL: WHO’S WINNING AND LOSING THE DHS SHUTDOWN

As the DHS shutdown drags on, Trump and congressional Republicans are gambling that budget reconciliation will be the way to fund immigration enforcement for several years to come. Some Republicans have floated funding ICE not just through Trump’s term, but for up to a decade.

The GOP used the same process to fund ICE last year, teeing up $75 billion for enforcement operations for the next four fiscal years.

But the party-line process comes with a host of challenges that could test Republican unity in an election year.

GOP lawmakers will have to identify spending cuts to pay for it. When Republicans used the process to pass Trump’s One Big Beautiful Bill Act in July 2025, lawmakers nearly stumbled at the finish line over disagreements on cuts to federal Medicaid spending and food assistance programs.

Without a looming deadline like the expiration of Trump’s 2017 tax cuts that Republicans extended in July 2025 through the “big, beautiful bill,” some GOP lawmakers have voiced concern that the party will stay unified.

Republicans have proposed adding other issues into the reconciliation mix, including supplemental funding for the Iran war, affordability measures, the president’s tariff regime and pieces of the election integrity-focused SAVE America Act.

The budget reconciliation process allows a party with control of the White House and both chambers of Congress to pass tax and spending priorities with a simple majority threshold, though the process is governed by stringent requirements for what is eligible to be included.

Punting ICE and CBP money to a future spending bill could also negatively affect support staff employed by both agencies who have not been paid during the seven-week shutdown.

Compilation image of President Donald Trump and Senate Minority Leader Chuck Schumer.

Democrats have repeatedly blocked funding for ICE and the Border Patrol in the Senate since the beginning of the shutdown in mid-February. Though none of their proposals to reform immigration enforcement have been adopted, Democratic leaders claimed victory on Wednesday. 

“Throughout this fight, Senate Democrats never wavered,” Senate Minority Leader Chuck Schumer, D-N.Y., said Wednesday. “We were clear from the start: fund critical security, protect Americans, and no blank check for reckless ICE and Border Patrol enforcement. 

“We were united, held the line, and refused to let Republican chaos win.”

The Senate deal funding most of DHS could still face roadblocks in the House. A handful of conservatives have already said they will vote “no” while using the same messaging employed by House GOP leadership to oppose the bill last week.

“Let’s make this simple: caving to Democrats and not paying CBP and ICE is agreeing to defund Law Enforcement and leaving our borders wide open again,” Rep. Scott Perry, R-Pa., wrote on social media Wednesday. “If that’s the vote, I’m a NO.”

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President Donald Trump addressed the nation Wednesday night, saying the United States’ “core strategic objectives” in Iran are “nearing completion” just a month after Operation Epic Fury began and warned that the U.S. will hit Tehran “extremely hard” over the next several weeks.

“Tonight, I’m pleased to say that these core strategic objectives are nearing completion,” the president said, touting the United States military and their “extraordinary” efforts.

Here are the top five takeaways from the president’s address: 

Trump says Operation Epic Fury is ‘nearing completion’

President Trump told Americans Wednesday night that after 32 days of Operation Epic Fury, Iran is “essentially really no longer a threat.” 

The president, upon the announcement of Operation Epic Fury, detailed the United States’ objectives. Trump said, “We are systematically dismantling the regime’s ability to threaten America or project power outside of their borders.”

“That means eliminating Iran’s navy, which is now absolutely destroyed, hurting their air force and their missile program at levels never seen before, and annihilating their defense industrial base,” the president said Wednesday night.

INSIDE IRAN’S MILITARY: MISSILES, MILITIAS AND A FORCE BUILT FOR SURVIVAL

“We’ve done all of it,” he continued. “Their navy is gone. Their air force is gone. Their missiles are just about used up or beaten. Taken together, these actions will cripple Iran’s military, crush their ability to support terrorist proxies and deny them the ability to build a nuclear bomb.” 

“Our armed forces have been extraordinary,” the president said. “There’s never been anything like it militarily. Everyone is talking about it.” 

“And tonight, I’m pleased to say that these core strategic objectives are nearing completion,” he said.

Meanwhile, the president thanked U.S. allies in the Middle East — “Israel, Saudi Arabia, Qatar, the UAE, Kuwait and Bahrain.”

“They’ve been great, and we will not let them get hurt or fail in any way, shape or form,” he said.

“I’ve made clear from the beginning of Operation Epic Fury that we will continue until our objectives are fully achieved, thanks to the progress we’ve made,” he said. “I can say tonight that we are on track to complete all of America’s military objectives shortly. Very shortly.”

The president warned that the U.S. is “going to hit them extremely hard over the next two to three weeks.”

“We’re going to bring them back to the Stone Ages where they belong,” he said. “In the meantime, discussions are ongoing. Regime change was not our goal. We never said regime change, but regime change has occurred because of all of their original leaders’ deaths. They’re all dead. The new group is less radical and much more reasonable.”

Trump says rising gas prices in the US are ‘short term’

Since Operation Epic Fury began, gas prices in the United States have increased. The president acknowledged that development, and expressed confidence that those increases are “short term.”

The average price of a gallon of gas surpassed $4 Tuesday, a first since 2022. 

“Many Americans have been concerned to see the recent rise in gasoline prices here at home,” the president said. “The short-term increase has been entirely the result of the Iranian regime launching deranged terror attacks against commercial oil tankers and neighboring countries that have nothing to do with the conflict.”

WHY TRUMP, IRAN SEEM LIGHT-YEARS APART ON ANY POSSIBLE DEAL TO END THE WAR

“This is yet more proof that Iran can never be trusted with nuclear weapons. They will use them, and they will use them quickly. It would lead to decades of extortion, economic pain and instability worse than we can ever imagine,” the president said. “The United States has never been better prepared economically to confront this threat. You all know that we built the strongest economy in history.”

The president touted the economy under his leadership, saying that he has “taken a dead and crippled country — I hate to say that, but we were dead and crippled country after the last administration — and made it the hottest country anywhere in the world by far, with no inflation, record-setting investments coming into the United States, over $18 trillion and the highest stock market ever with 53 all-time record highs in just one year.”

U.S. President Donald Trump delivers an address to the nation about the Iran war at the White House in Washington, D.C.,

The president said those economic gains “all positioned us to get rid of a cancer that has long simmered.”

“It’s known as the nuclear Iran, and they didn’t know what was coming. They’ve never imagined it,” he said. “Remember, because of our drill baby drill program, America has plenty of gas. We have so much gas.”

The president said that, under his leadership, the U.S. is the “number one producer of oil and gas on the planet without even discussing the millions of barrels that we’re getting from Venezuela because of the Trump administration’s policies. We produce more oil and gas than Saudi Arabia and Russia combined.”

“Think of that — Saudi Arabia and Russia combined,” he continued. “And that number will soon be substantially higher than that. There’s no country like us anywhere in the world.”

The president stressed that “the hard part is done.”

“When this conflict is over, the strait will open up. Naturally. It’ll just open up naturally. They’re going to want to be able to sell oil because that’s all they have to try and rebuild,” he said. “It will resume the flowing and the gas prices will rapidly come back down.”

The president said it was necessary to “take that little journey to Iran to get rid of this horrible threat with our historic tax cuts, where people are just now talking about receiving larger refunds than they ever thought possible, they are getting so much more money than they thought. That’s from the great big, beautiful bill.”

He added: “Our economy is strong and improving by the day and it will soon be roaring back like never before. It will top the levels that it was a month ago.”

Trump thanks US troops for work in Middle East, Venezuela

The president began his address Wednesday night by thanking U.S. troops for “the massive job they did in taking the country of Venezuela in a matter of minutes.”

“That hit was quick, lethal, violent and respected by everyone all over the world,” Trump said, referring to the January operation.

CENTCOM troops listen to war secretary pete hegseth

“We’re working along with Venezuela are, in a true sense, joint venture partners,” Trump said. “We’re getting along incredibly well in the production and sale of massive amounts of oil and gas — the second-largest reserves on Earth after the United States of America.”

POLL POSITION: WHERE TRUMP STANDS AMONG AMERICANS AS HE FACES THE NATION IN PRIMETIME

Shifting to Operation Epic Fury and the progress made, the president honored “the 13 American warriors who have laid down their lives and this fight to prevent our children from ever having to face a nuclear Iran.”

“Twice this past month, I have traveled to Dover Air Force Base, and it’s been something I wanted to be with those heroes as they return to American soil,” he said. “And I was with them and their families, their parents, their wives, their husbands.”

“We salute them, and now we must honor them by completing the mission for which they gave their lives,” the president said. “And every single one of the people, their loved one said, please, sir, please finish the job, every one of them, and we are going to finish the job and we’re going to finish it very fast. We’re getting very close.”

Trump urges Americans to keep the Iran conflict ‘in perspective’

“It’s very important that we keep this conflict in perspective,” the president said. “American involvement in World War One lasted one year, seven months and five days.”

“World War Two lasted for three years, eight months and 25 days,” he continued. “The Korean War lasted for three years, one month and two days. The Vietnam War lasted for 19 years, five months and 29 days.”

“Iraq went on for eight years, eight months and 28 days,” the president said.

President Trump vows US is 'very close' to finishing the job on Iran: We hold 'all the cards'

“We are in this military operation, so powerful, so brilliant against one of the most powerful countries for 32 days,” he said. “And the country has been eviscerated and, essentially, is really no longer a threat.”

FOX NEWS LIVE UPDATES ON THE U.S. WAR WITH IRAN

Trump said that Iran was “the bully of the Middle East, but they’re the bully no longer.”

“This is a true investment in your children and your grandchildren’s future,” he said. “The whole world is watching, and they can’t leave the power, strength and brilliance. They just can’t believe what they’re seeing. They leave it to your imagination, but they can’t believe what they’re seeing — The brilliance of the United States military.”

He added: “Tonight, every American can look forward to a day when we are finally free from the wickedness of Iranian aggression and the specter of nuclear blackmail. Because of the actions we have taken, we are on the cusp of ending Iran’s sinister threat to America and the world. And I’ll tell you, the world is watching.”

Trump rips into Obama’s Iran Nuclear Deal

President Trump said ending former President Barack Obama’s Iran nuclear deal was among his top achievements as president, telling the nation he was “honored” to do it.

“I terminated Barack Hussein Obama’s Iran nuclear deal disaster,” Trump said. “Obama gave them $1.7 billion in cash. Green, green cash took it out of banks from Virginia, D.C. and Maryland. All the cash they had.”

The president went on to say that Obama “flew it by airplanes in an attempt to buy their respect and loyalty. But it didn’t work.”

“They laughed at our president and went on with their mission to have a nuclear bomb,” Trump said. “His Iran deal would have led to a colossal arsenal of massive nuclear weapons for Iran, and they would have had them years ago, and they would have used them, would have been a different world.”

WATCH: Trump says he was 'honored' to rip up Obama's Iran nuclear deal, lists it among top achievements

The president said, “There would have been no Middle East and no Israel right now, in my opinion, the opinion of a lot of great experts, had I not terminated that terrible deal that I was so honored to do it.”

“I was so proud to do it It was so bad right from the beginning,” he said. “Essentially, I did what no other president was willing to do.”

He added: “They made mistakes, and I am correcting them.”

The president said his “first preference was always the path of diplomacy, yet the regime continued their relentless quest for nuclear weapons and rejected every attempt at an agreement.”

“For this reason, in June, I ordered a strike on Iran’s key nuclear facilities and Operation Midnight Hammer. And nobody’s ever seen anything like it. Those beautiful B-2 bombers performed magnificently,” he said. “We totally obliterated those nuclear sites.”

But the president said the Iranian regime “then sought to rebuild their nuclear program at a totally different location, making clear they had no intention of abandoning their pursuit of nuclear weapons.”

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President Donald Trump revealed during Wednesday night’s Iran address that one of his top achievements against Iran, which he described as spanning across both his terms, was shredding former President Barack Obama’s 2015 nuclear deal.

Trump described the efforts in the Middle East as making “tremendous progress” and called Operation Epic Fury “necessary for the safety of America and the security of the free world.” 

Meanwhile, he slammed Iran as “fanatical,” “murderous” and “thuggish,” arguing that letting them have a nuclear weapon “would be an intolerable threat.” While slamming Obama’s 2015 deal, the president cited the $400 million cash payment the former president’s administration flew to Iran in an effort to “buy their respect and loyalty.”

“The most violent and thuggish regime on Earth would be free to carry out their campaigns of terror, coercion, conquest and mass murder from behind a nuclear shield. I will never let that happen, and neither should any of our past presidents,” Trump said, leading into his comments about Obama’s “terrible” deal with Iran. 

IRAN FIRES BACK WITH FLAT DENIAL AFTER TRUMP CLAIMS TEHRAN REQUESTED CEASEFIRE: ‘FALSE AND BASELESS’

“I did many things during my two terms in office to stop the quest for nuclear weapons by Iran. First, and perhaps most importantly, I killed Gen. Qasem Soleimani in my first term. He was an evil genius, brilliant person, a horrible human being. The father of the roadside bomb,” Trump continued. “And then, very importantly, I terminated Barack Hussein Obama’s Iran nuclear deal. A disaster. Obama gave them $1.7 billion in cash – green, green cash. Took it out of banks from Virginia, D.C. and Maryland. All the cash they had.”

Former U.S. President Barack Obama

Trump slammed Obama’s administration for using airplanes to transport that cash, around $400 million, in January 2016, which Trump said was done “to buy their respect and loyalty.” 

“But it didn’t work,” Trump continued. “They laughed at our president and went on with their mission to have a nuclear bomb. His Iran deal would have led to a colossal arsenal of massive nuclear weapons for Iran, and they would have had them years ago, and they would have used them – would have been a different world. There would have been no Middle East and no Israel right now, in my opinion… Had I not terminated that terrible deal – I was so honored to do it. I was so proud to do it. It was so bad right from the beginning.”

Trump added that he is currently “correcting” the “mistakes” of former presidents, like Obama, noting he has been willing to do what they have not.

PRESIDENT TRUMP SAYS US COULD FINISH IRAN OPERATION WITHIN ‘TWO TO THREE WEEKS’

U.S. President Donald Trump delivers an address to the nation about the Iran war at the White House in Washington, D.C.,

Obama’s Iran nuclear deal, the Joint Comprehensive Plan of Action (JCPOA), exchanged sanctions relief to Iran for certain limits and international monitoring of Iran’s nuclear program, which the administration said would push Tehran further from a bomb, a take that has been contested by critics, including Trump. 

Critics argued the effort actually empowered Iran, pointing in part to the Wall Street Journal reporting that the U.S. secretly airlifted $400 million in cash to Tehran that coincided with the release of four American prisoners.

The U.S. and Iran have completed four rounds of indirect negotiations regarding Iran’s nuclear program, but an agreement has not yet been reached.

The Obama administration maintained that the payment was not part of the nuclear pact itself, but that it was the first installment of a separate settlement stemming from a decades-old pre-revolution arms dispute.

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American flyers still smarting from interminable airport security lines are about to get another shock.

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A looming global jet fuel shortage is expected to hike the cost of air travel and reduce flight schedules, as airlines look to offset rising prices.

On Monday, JetBlue announced it was raising baggage fees, citing “rising operating costs.”

“While we recognize that fee increases are never ideal, we take careful consideration to ensure these changes are implemented only when necessary,” the carrier said.

United Airlines CEO Scott Kirby said costs to passengers have already been increasing. Data from flight information group OAG shows average airfares in the past week reached $465, the highest price point for the same period since at least 2019.

“We have to raise prices to deal with higher fuel prices,” Kirby acknowledged at a company event last week in Los Angeles. In a subsequent memo, he added: “It may be a challenge to continue passing through much of the increased fuel price if oil stays higher for longer.”

The rising prices are the latest example of the economic fallout from the war with Iran. Analysts have started warning that the full toll has only begun to be accounted for as the global economy absorbs the loss of critical energy exports out of the region due to the closure of the Strait of Hormuz and damage to other key energy infrastructure sites in the region. On Tuesday, U.S. gasoline prices hit $4 a gallon for the first time since 2022 amid surging oil prices. Major stock indexes, meanwhile, have fallen by nearly 10% since the start of the war.

In the case of air travel, the industry is facing jet fuel prices that have surged 85% in the U.S. since the day before the war began in February, according to data from Argus published by the industry group Airlines for America. On Monday, they hit a record $4.62 a gallon.

Most U.S. carriers no longer hedge fuel costs, said Henry Harteveldt, president of Atmosphere Research Group. So they are forced to pass on some costs to passengers.

While U.S. carriers largely source jet fuel domestically, countries in Asia and Europe that are more reliant on Middle East stocks have begun signaling they are taking unprecedented measures to conserve jet fuel. In South Korea, carriers have requested that the government help redirect fuel stocks bound for export back to local markets.

The Financial Times reported Monday that the U.K. was also facing an acute shortage, with no Britain-bound cargoes visible on the water as transit through the Strait of Hormuz remains blocked. Some foreign carriers have begun charging fuel surcharges of as much as $150.

As overseas carriers begin looking to alternative supply bases, the cost for a global commodity like jet fuel rises across the board.

“It shocks the entire mechanism,” said Jaime Brito, an executive director at Oil Price Information Service consultancy.

President Donald Trump commented on the jet fuel shortages Tuesday morning, though he did not mention their impact on U.S. travelers.

“All of those countries that can’t get jet fuel because of the Strait of Hormuz, like the United Kingdom, which refused to get involved in the decapitation of Iran, I have a suggestion for you: Number 1, buy from the U.S., we have plenty, and Number 2, build up some delayed courage, go to the Strait, and just TAKE IT,” he wrote on Truth Social.

Airlines are also signaling capacity cuts to cope with rising costs. United will drop about 5% of planned flights in mostly “off-peak periods” — like red-eye and midweek routes — during the second and third quarters of 2026 to further mitigate the cost increases.

“We’re certainly going to be nimble in terms of capacity to make sure that supply and demand stay in balance,” American Airlines CEO Robert Isom said at a JPMorgan conference earlier this month.

Kyle Potter, executive editor of the Thrifty Traveler, said most carriers have quietly been raising airfares since the Iran war began. He said airlines typically move in droves when making pricing decisions, so it is likely that other carriers may also soon begin raising baggage fees or seek other forms of ancillary revenue. Potter noted that unlike airfares, revenues from these fees are not subject to federal excise taxes.

As a result, the fees — unlike airfares — are unlikely to come back down assuming jet fuel prices recover.

Representatives for five other major U.S. carriers did not respond to a request for comment.

The acute fuel price increase comes as air travel demand has remained steady, with January and February ticket sales at or near records. While investors have taken airline stocks down some 25% since the start of the Iran war, Kirby said that customers appear willing to keep booking thanks to healthy demand even if airfare rises.

“The number of wealthy Americans who are traveling is bigger and wealthier than ever, and that is what much of the airline industry is relying on right now,” Potter said. “And that means they’re more immune to higher fees, higher fares and just getting turned off by negative news about travel.”

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PHOENIX — Paige Bueckers said both the UConn women’s and men’s teams being in the Final Four is proof that Storrs, Connecticut, is “the best basketball capital in the world.” She may be a little biased.

Bueckers, the former UConn superstar who led the Huskies to the program’s 12th national title last season, said she’s rooting for both programs to pull off rare dual championships. A university has had its women’s and men’s teams advance to the Final Four 15 times in March Madness history, including the 2026 Huskies, but winning both championships has only happened two times. The UConn Huskies achieved the feat both times.

“We didn’t get to have a dual year. We were close,” Bueckers said Wednesday at the Team USA basketball camp in Phoenix. She’s referring to the UConn women falling short of the title game in 2024 after a Final Four loss to Caitlin Clark and the Iowa Hawkeyes, while UConn men’s basketball went on to win the national title.

The championship double was last pulled off by UConn in 2014, when Breanna Stewart and the women’s team hoisted the NCAA title trophy within 24 hours of Shabazz Napier and the men’s team. Stefanie Dolson was a member of that women’s championship team and recalled the excitement of both teams winning it all.

“It was a really special moment for us when we won and then the men have won the next day,” Dolson recalled at the Team USA basketball camp on Wednesday. “I know how the girls feel right now, just that they’re all in the Final Four. So I’m really excited. Looking forward to watching both teams play.”

Dolson is confident the women’s team has what it takes to defend its championship.

“They look great. I’m excited to watch them play. I think they’re going to take the championship,” Dolson declared. “Obviously, I’m rooting for them, but they have a really special team. You can tell how close they are and how well they vibe and they’ve had a few tests during the tournament, so I think they’re ready for it.”

The UConn women have dominated competition across an undefeated season and are riding a 54-game win streak, dating back to Bueckers’ time in Storrs, Connecticut, but she said she’s impressed by how this squad has “responded to the adversity” throughout the tournament after battling through some tight first halves.

“The resilience and the togetherness stood out for sure,” Bueckers said. “And for me, it’s always like I’m scared (for) other teams coming out third quarter because I know what coach is saying at halftime.”

UConn coach Geno Auriemma celebrated the Huskies’ 25th trip to the Final Four with a cowboy hat and “giddy up” dance after defeating the Notre Dame Fighting Irish 70-52 in the Elite Eight on Sunday, March 29 in Fort Worth, Texas. Dolson said the moment didn’t surprise her.

“I have some stories about Geno (Auriemma) that people would be shocked about, but it’s just good to see all the girls have such a great relationship with him,” Dolson said. “He’s always been that type of coach that is so hard on us on the court. But then off the court, you’re his best friend. The amount of times we had dinners at his house and how much he cared for you, that’s why they play so hard for him.”

Speaking of dinner, Auriemma revealed he had dinner with Bueckers and the team last week. “It reminded me of how much those five years took off of my life, listening to the things that she says, and the interesting thing is I lived through it with Diana (Taurasi) and they’re the only two that put me through that,” he said.

Reach USA TODAY National Women’s Sports Reporter Cydney Henderson at chenderson@gannett.com and follow her on X at@CydHenderson.

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The average price of a gallon of gasoline hit $4 Tuesday for the first time since mid-2022, as the cost of oil surges due to the Iran war.

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In the month since the United States and Israel attacked Iran, the average price of unleaded gas has spiked more than a dollar a gallon. On Tuesday morning, the average price nationwide was $4.02 per gallon, motor club AAA said.

It’s not just retail gasoline. The diesel fuel used to power trucks delivering goods to stores, farm equipment and public transit has risen to $5.45 per gallon, more than $1.80 higher than it was a year ago.

Driving that is the soaring cost of crude oil worldwide. U.S West Texas Intermediate (WTI) crude has risen more than 50% since the war began Feb. 28, while Brent, the international benchmark, has seen a jump of nearly 60%.

On Monday, U.S. crude oil settled above $100 per barrel for the first time since Russia’s full-scale invasion of Ukraine in 2022. Brent crude oil is poised to see its largest one-month increase on record.

Oil prices had already started rising before the Iran war began, fueled by fears that a conflict was imminent. Since the start of the year, the cost of U.S. crude oil is up more than 80% and Brent has skyrocketed almost 90%.

In response to strikes by the U.S. and Israel, Iran has effectively blocked shipping through the Strait of Hormuz, a critical channel off its southern coast. Tehran has also attacked its Gulf Arab neighbors, who are major oil producers.

Typically, more than 20% of the world’s oil supply moves through the waterway. But Iran has repeatedly threatened to attack ships if they move through the strait without permission or if they’re associated with the U.S. or Israel. Several tankers have been hit.

As a result, many tankers are stranded in the Persian Gulf, unable to deliver their products to markets.

Some tankers have been allowed to pass through the strait, including one associated with India and three associated with China. But overall traffic through the waterway is down more than 90% in March.

During the first 28 days of the war, a total of only 55 to 60 tankers have cleared the Strait of Hormuz, according to the ship tracking website TankerTrackers.

Before the war, more than 100 ships per day made the passage, it said.

“This rise in gasoline spending could potentially dampen consumers’ ability to spend on ‘nice-to-have’ or discretionary categories,” Bank of America economists recently wrote.

This year, the average U.S. household will spend an additional $740 on gas because of the jump in oil prices, according to economists from the Stanford Institute for Economic Policy Research.

“The consumer has already seen the sticker shock from rising gasoline prices and increased airline ticket prices from the rising cost of jet fuel,” longtime industry analyst Andy Lipow said. “However, the full effects of the higher diesel prices has yet to be felt and that will flow through the economy over the next few months.”

As American consumers adjust to higher gas prices, oil dependent nations in Europe and Asia are already facing much more severe energy shocks. Inflation, oil and gas rationing and sharp pullbacks in economic growth estimates are impacting billions of people worldwide.